Variable annuity sales rise;fixed annuity sales dip

By Gary Linnell

ProWEB Wire (Industry News)

In the second quarter of 2010, variable annuity sales climbed 11 percent to a figure of $35.5 billion, according to LIMRA's U.S. Individual Annuities Second Quarter 2010 Sales Report.

Findings indicate that VA sales were 10 percent higher in the second quarter. And, in the first and second quarters combined, VA sales improved eight percent over 2009 -- having risen to a figure of $67.9 billion.

In terms of fixed annuities, sales declined 26 percent in the year-over-year period ended with the second quarter. However, compared with the first quarter, fixed annuity sales rose 13 percent to a figure of $21.5 billion.